The National Bureau of Statistics says the average retail price of a litre of petrol witnessed an increase from N1,288.54  in March to N1,532.93 in April.

The NBS stated this in its Petrol Price Watch for April. It said that the April price of N1,532.93 represented an 18.97 per cent increase over the price of N1,288.54 recorded in March.

The report said the average retail price of petrol increased on a year-on-year basis from N1,239.33 recorded in April 2025 to N1,532.93 in April 2026, representing a 23.69 per cent increase.

“On state profiles analysis, Yobe paid the highest average retail price of N1,599.05 per litre, followed by Edo at N1,595.74  and Bauchi at N1,589.07. Conversely, Niger paid the lowest average retail price of N1,403.89, followed by Sokoto at N1,404.16 and Katsina at N1406.28,” it said.

Analysis by zone showed that the South-South recorded the highest average retail price in April at N1,566.76, while the North-West recorded the lowest at N1,508.81.

The NBS also said in its Diesel Price Watch Report for April 2026 that the average retail price paid by consumers increased by 50.16 per cent on a month-on-month basis.

It said that the retail price moved from a lower cost of N1,648.06 per litre recorded in March to an average higher cost of N2,474.69 in April.

The report said that on a year-on-year basis, the price also increased by 43.67 per cent from a lower cost of N1,722.45 per litre recorded in April 2025 to a higher cost of N2,474.69  in April 2026.

On state profiles analysis, it said that the highest average price of diesel in April  2026 was recorded in Nasarawa at N2,818.94  per litre, followed by Ebonyi at N2,754.06  and Taraba at N2,704.76.

On the other hand, the lowest price was recorded in Kebbi at N2,180.28 per litre, followed by Kogi at N2,192.70  and Katsina at N2,269.14. In addition, the analysis by zone showed that the North-East had the highest price at N2,603 per litre, while the North-West had the lowest at N2,409.34 per litre.

Experts say the month-on-month increase in petrol and diesel prices is largely driven by geopolitical tensions in the Middle East, where the closure of the Strait of Hormuz has disrupted global energy supplies and pushed Brent crude oil prices significantly higher.

(NAN)